ENB changes
Pick any two versions below to diff them.
- Price
- CA$68.02 → CA$68.25(+0.3%)
- Balance sheet
- Cash: CA$4.9B Debt: CA$114.3B Net debt: CA$109.4B Net debt / EBITDA: 5.1× (high) Undrawn credit line: CA$6.9B Debt due within 12 months: CA$8.9B Enbridge funds its assets with long-term notes, hybrid securities, commercial paper and equity. At September 30, 2026, total debt was C$114.3 billion: C$105.3 billion of long-term debt, C$7.4 billion due within one year and C$1.5 billion of short-term borrowings. Unrestricted cash was C$4.9 billion, and available credit facilities were C$6.9 billion, for net available liquidity of C$11.8 billion. The company states debt to EBITDA of 5.1 times for the 12 months to September 30, 2026, above its target of 4.5 to 5.0 times, because debt in US dollars was translated at 1.42 Canadian dollars per US dollar, against an average of 1.39 for EBITDA. In September 2026, Enbridge sold about C$3.0 billion of new shares to help fund the Tallgrass and Salt Creek purchases, and it closed the Salt Creek purchase in October 2026. added: On November 9, 2026, it priced US$2.1 billion of senior notes due 2032 to 2056 and US$1.1 billion of subordinated notes due 2057, to reduce debt and to pay part of the announced purchases. The company expects to finance its C$38 billion backlog from about C$10 billion to C$11 billion of growth capital capacity each year. As of Sep 30, 2026.
- Recent events
- Nov added: 9, 2026: Enbridge priced US$2.1 billion of senior notes: US$700 million of 5.450% notes due 2032, US$800 million of 5.850% notes due 2036 and US$600 million of 6.350% notes due 2056. It also priced US$1.1 billion of subordinated notes due 2057: US$550 million at 6.700% until May 2032 and US$550 million at 6.875% until May 2037, after which the rates reset every five years. Both sales are to settle on November 13, 2026. Enbridge plans to use the money to reduce debt, to pay part of the announced purchases, and for capital spending and general purposes. Nov 6, 2026: Enbridge reported Q3 2026 results. Adjusted EBITDA was C$4.4 billion, up from C$4.3 billion, and DCF was C$2.7 billion, up from C$2.6 billion. Adjusted earnings were C$0.49 per share. Enbridge reaffirmed its 2026 guidance and its growth outlook of about 5% a year. Debt to EBITDA stayed at 5.1 times, which Enbridge says is because of the exchange rate. It placed about C$3 billion of gas projects into service, agreed to buy the assets of Laramie Energy for US$0.5 billion and closed a C$0.7 billion investment by KKR and Apollo in its Westcoast system. Oct 9, 2026: Enbridge closed its US$600 million purchase of Salt Creek Midstream's crude oil gathering business in the Delaware Basin. Sep 14, 2026: Enbridge closed a bought-deal offering of 44,735,000 common shares at C$66.85 per share, including the full over-allotment option, for gross proceeds of about C$3.0 billion. Sep 9, 2026: Enbridge agreed to buy Tallgrass's crude oil business, including 75% of the Pony Express Pipeline, for US$2.55 billion in cash, about 10 to 11 times forward EBITDA. It expects to close later in 2026 and expects the deal to add to DCF per share in the first full year. Sep 8, 2026: Enbridge said that Greg Ebel will retire as President and CEO on December 31, 2026. Michele Harradence, who leads the gas distribution and storage business, will become President and CEO on January 1, 2027. Aug 26, 2026: Enbridge agreed to buy Salt Creek Midstream's crude oil gathering business in the Delaware Basin for US$600 million in cash. Jul 31, 2026: Enbridge reported Q2 2026 results. Adjusted EBITDA was C$4.8 billion, up from C$4.6 billion, and DCF was C$2.9 billion. Adjusted earnings were C$0.63 per share. Enbridge reaffirmed its 2026 guidance, sanctioned the US$1.0 billion Line 5 relocation in Wisconsin and grew its secured backlog to C$41 billion.